2021 Monitoring Deep Dive: Residential Monitoring Eclipses $50 RMR Mark
SSI surveyed several hundred professional installing security firms that contract with wholesale third-party monitoring centers to deliver key trends, opportunities and challenges security pros need to know.
While more than eight in 10 (83%) of monitored security professionals acknowledge the pandemic has posed customer and attrition challenges and three in four (76%) note operational and staffing impacts, the industry has come through the COVID-19 catastrophe with flying colors.
The average number of monitored residential and commercial accounts as well as recurring monthly revenue per account have increased as compared to a year ago. At that time, 88% were concerned about the pandemic’s effect on sales — meaning many are presently breathing sighs of relief.
This news is particularly impressive considering how, in most cases, monitoring facilities had to pivot to facilitating agents responding to signals and calls from home workstations. That new data is derived from Security Sales & Integration’s second Monitoring Deep Dive study.
This research compiles and breaks down statistics from a wide variety of professional installing security firms across the nation that contract with wholesale third-party monitoring centers. The project’s purpose is to isolate the key trends, opportunities and challenges security pros need to know. Several hundred respondents participated during the survey’s June 2021 fielding.
Among the swath of other findings is that for basic alarm monitoring only, dealers are averaging $260K in residential RMR and $321K on the commercial side; in excess of one in four commercial customers are now subscribing to more than just basic alarm monitoring; about a third of clientele select panic/duress capabilities; 31% of dealers are offering a self-installed monitoring alternative; concerns continue to track high on sunsetting cellular communications; and although customer service is still the most important quality in a monitoring partner, pricing has become a more conspicuous pain point.
Adjustments to the revenue mix of vertical markets is one of the few areas where the Deep Dive reveals COVID-19’s impact, with small- to medium-sized businesses among those sustaining hits.
Read on for all the facts and figures concerning total monitored account bases, revenues per account, leading monitored services, most promising technologies, hottest commercial monitoring markets, what dealers most want from their monitoring providers and more.
View the 2021 Monitoring Deep Dive
Click here to download the Deep Dive as a PDF
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About the Author
Scott Goldfine
Scott Goldfine is the marketing director for Elite Interactive Solutions. He is the former editor-in-chief and associate publisher of Security Sales & Integration. He can be reached at [email protected].
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2021 Monitoring Deep Dive.
Lots of hard work by SS&I…. well done. But, a critical category is missing, which dilutes the whose report. “Delivery of Alarm- Site Customer Expectations”, and the many related issues. Are you able to deliver whatever the dealer is selling/promising their customer. Police Response, Private Response, Customer Notification, Concierge Services, Third party notification, etc, etc, etc. We believe it has become a high priority topic due to slow or no police response in hundreds of AHJ and PSAPS. And is a critical element of the dreaded “attrition”.
Observation of: Lee Jones; Support Services Group